The XDB Foundation announced the addition of Stably Corporation, a Seattle-based fintech firm hyper focused on stablecoin development, to the DigitalBits ecosystem. In collaboration with their regulated partner Prime Trust, Stably is responsible for the creation of USDS, a prominent USD-pegged stablecoin. Stably’s Stablecoin-as-a-Service brings a white label stablecoin solution to the DigitalBits blockchain, allowing brands and enterprises to quickly and easily launch secure, compliant stable assets on-chain with the foremost in blockchain technology.
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Stably also announced that it will add USDS to the DigitalBits network as the first stablecoin leveraging the Stably platform with the DigitalBits blockchain. This DigitalBits-based USDS will allow users to transact with other DigitalBits-based branded currencies, including other fiat pegged branded currencies across the DigitalBits network. USDS is currently based on the ERC-20 token standard for Ethereum and the BEP-2 standard for Binance Chain.
“I am thrilled to see Stably onboard and make a significant contribution to the DigitalBits ecosystem with the integration of their stablecoin platform. It’s very exciting to work with a company that shares our vision for branded stablecoins, and sees the benefits that these assets can bring to brands and users alike. Together, Stably and the XDB Foundation are focused on driving development, use-cases, and ultimately widespread adoption for branded stablecoins,” said Michael Gord, Managing Director, XDB Foundation.
“We are excited to be joining the DigitalBits ecosystem,” said Kory Hoang, Co-founder and CEO, Stably. “Stably’s mission is to bridge wealth from the real world to digital worlds, be it blockchains, virtual realities or video games. We look forward to tokenizing various asset classes including fiat currencies, commodities and even collectibles on the DigitalBits network to enable faster, cheaper and borderless transactions globally.”
Stably predicts that in the future, most major brands will use their own form of branded stablecoin. These unique assets afford companies numerous benefits, such as generating interest on reserve assets, significantly reduced transaction fees, as well as enhancing marketing and customer loyalty.
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